MATIC price has been in a downtrend for almost 700 days since the last rally. Last week the altcoin broke above this trend line but failed to break out. Rather, it formed a candlestick in a downtrend and broke down again.

The bullish trend of the weekly RSI supported the possibility of a price rise. Additionally, MATIC price broke the long-term horizontal resistance zone of $0.75, and it is predicted that this level will provide support in the coming days.

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If MATIC breaks out as forecast, it could rise 70 percent to the next horizontal resistance at $1.50.

Even if it fails to break out of the long-term trend line, it could lead to a 10 percent decline to the nearest support level of $0.75.

X’s cryptocurrency analysts are also mostly bullish on the future MATIC price trend.

ZAYKCharts notes that there is a possibility of a long-term breakout from the current long-term pattern and the price could reach a new all-time high.

NebraskanGunner and Nihilus also expressed their bullish expectations. However, the analyzes were conducted for the short term, not the long term.

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